Rakusen's Ltd - Period Ending 2015-07-01

Registration number: 02385824

Rakusen's Ltd

Unaudited Abbreviated Accounts

for the Period from 1 July 2014 to 1 July 2015

 

Rakusen's Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Rakusen's Ltd
(Registration number: 02385824)
Abbreviated Balance Sheet at 1 July 2015

		Note			1 July 2015 £			30 June 2014 £
Fixed assets
Tangible fixed assets		2			290,382			1,086,500
Current assets
Stocks					395,836			585,376
Debtors					2,071,935			441,218
Cash at bank and in hand					60,663			149,241
					2,528,434			1,175,835
Creditors: Amounts falling due within one year					(629,764)			(433,429)
Net current assets					1,898,670			742,406
Total assets less current liabilities					2,189,052			1,828,906
Creditors: Amounts falling due after more than one year					(10,940)			(52,807)
Provisions for liabilities					(40,773)			(53,693)
Net assets					2,137,339			1,722,406
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					2,137,239			1,722,306
Shareholders' funds					2,137,339			1,722,406

For the year ending 1 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 31 March 2016

.........................................
A D Simpson
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Rakusen's Ltd
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 1 July 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	50 years
Plant and machinery	7 years
Fixtures, fittings and equipment	3 to 5 years

Research and development

Research and development expenditure is written off as incurred.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Rakusen's Ltd
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 1 July 2015
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		3,461,213			3,461,213
Additions		30,746			30,746
Disposals		(1,248,770)			(1,248,770)
At 1 July 2015		2,243,189			2,243,189
Depreciation
At 1 July 2014		2,374,713			2,374,713
Charge for the period		124,497			124,497
Eliminated on disposals		(546,403)			(546,403)
At 1 July 2015		1,952,807			1,952,807
Net book value
At 1 July 2015		290,382			290,382
At 30 June 2014		1,086,500			1,086,500

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 3

Rakusen's Ltd
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 1 July 2015
......... continued

		1 July 2015 £			30 June 2014 £
Amounts falling due within one year		41,867			39,020
Amounts falling due after more than one year		10,940			52,807
Total secured creditors		52,807			91,827

4	Share capital

Allotted, called up and fully paid shares

	1 July 2015						30 June 2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4